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Morpho Watch

cbBTC on Morpho

Coinbase Wrapped BTC (cbBTC) on Morpho, on every network: $9.88M in 5 vaults, $8.88M lent in 4 markets, $4.06B posted as collateral in 22 markets. Rates differ between vaults and markets because each has its own borrowers, collateral and curator.

Data from Morpho's API · updated

Best vault net APY

2.25%

Hyperithm cbBTC Apex

Best market supply APY

3.94%

against mHyperBTC, Monad

Cheapest to borrow

0.07%

against LBTC, Base

Posted as collateral

$4.06B

22 markets

Earn on cbBTC: vaults

Deposit cbBTC and a curator lends it out for you. Net APY is after the curator's fee.

Vaults that take cbBTC
Vault Deposits Net APY 30-day APY Fee Withdrawable
Hyperithm cbBTC ApexV2Hyperithm · Monad · $7.74M $7.74M92.23 cbBTC 2.25% 2.31% 10% $0
Moonwell Frontier cbBTCAnthias Labs · Base · $1.13M $1.13M13.44 cbBTC 0.09%incl. 0.07% rewards 0.09% 15% $785K
Gauntlet cbBTC CoreGauntlet · Base · $636K $636K7.58 cbBTC 0.34% 0.13% 10% $418K
Moonwell Frontier cbBTCV2Anthias Labs · Base · $374K $374K4.46 cbBTC 0.09%incl. 0.07% rewards 0.02% 15% $374K
UltraYield cbBTC CoreV2UltraYield · Ethereum · $839 $8390.0100 cbBTC 0.00% 0.00% 0% $839

Borrow cbBTC: markets

Markets that lend out cbBTC, each against one kind of collateral.

Markets that lend cbBTC
Market Supplied Supply APY Borrowed Borrow APY Utilization
mHyperBTC / cbBTCMonad · LLTV 77% $4.05M48.22 cbBTC 3.94% $3.66M$4.92M collateral 4.36% 90.5%
aHyperBTC / cbBTCMonad · LLTV 77% $3.69M44.01 cbBTC 0.92% $3.08M$5.23M collateral 1.10% 83.3%
LBTC / cbBTCBase · LLTV 91.5% $799K9.52 cbBTC 0.04% $460K$572K collateral 0.07% 57.6%
LBTC / cbBTCBase · LLTV 94.5% $344K4.10 cbBTC 1.05% $336K$424K collateral 1.07% 97.6%

Borrow against cbBTC

Markets that accept cbBTC as collateral. The LLTV is the loan-to-value at which a loan can be liquidated.

Markets that accept cbBTC as collateral
Market Supplied Supply APY Borrowed Borrow APY Utilization
cbBTC / USDCBase · LLTV 86% $1.65B1.65B USDC 4.31% $1.48B$3.22B collateral 4.80% 90.0%
cbBTC / USDCEthereum · LLTV 86% $338.3M338.34M USDC 4.50% $305.2M$704.4M collateral 5.00% 90.2%
cbBTC / RLUSDEthereum · LLTV 86% $12.99M12.99M RLUSD 3.51% $11.69M$41.85M collateral 3.91% 90.0%
cbBTC / USDTEthereum · LLTV 86% $17.19M17.19M USDT 4.45% $15.65M$37.31M collateral 4.90% 91.0%
cbBTC / EURCVEthereum · LLTV 86% $14.45M12.69M EURCV 1.88% $13.04M$23.02M collateral 2.09% 90.3%
cbBTC / EURCBase · LLTV 86% $4.40M3.86M EURC 2.43% $3.53M$7.84M collateral 3.03% 80.3%
cbBTC / USDSEthereum · LLTV 86% $3.68M3.68M USDS 2.66% $3.31M$5.98M collateral 2.96% 90.0%
cbBTC / EURCVEthereum · LLTV 86% $3.06M2.69M EURCV 1.82% $2.76M$5.14M collateral 2.02% 90.1%
cbBTC / PYUSDEthereum · LLTV 86% $1.70M1.70M PYUSD 4.66% $1.54M$4.55M collateral 5.14% 90.8%
cbBTC / USDTEthereum · LLTV 86% $798K798.49K USDT 1.75% $601K$1.74M collateral 2.33% 75.3%
cbBTC / USDCEthereum · LLTV 86% $608K608.53K USDC 4.54% $552K$1.34M collateral 5.01% 90.7%
cbBTC / USDCEthereum · LLTV 86% $652K652.28K USDC 4.50% $593K$1.07M collateral 4.96% 90.9%
cbBTC / pathUSDTempo · LLTV 77% $510K506.38K pathUSD 3.16% $475K$927K collateral 3.40% 93.2%
cbBTC / WETHBase · LLTV 91.5% $322K120.04 WETH 1.54% $291K$496K collateral 1.71% 90.2%
cbBTC / tGBPEthereum · LLTV 86% $116K87.93K tGBP 0.82% $105K$214K collateral 0.91% 90.0%
cbBTC / XSGDBase · LLTV 86% $145K185.42K XSGD 0.63% $121K$183K collateral 0.75% 83.2%
cbBTC / EURCEthereum · LLTV 86% $60.2K52.88K EURC 2.41% $47.0K$143K collateral 3.10% 78.0%
cbBTC / WETHEthereum · LLTV 91.5% $201K74.78 WETH 0.02% $62.6K$116K collateral 0.05% 31.2%
cbBTC / WETHEthereum · LLTV 91.5% $69.0K25.70 WETH 1.96% $62.3K$80.4K collateral 2.17% 90.3%
cbBTC / VCHFBase · LLTV 77% $22.7K18.48K VCHF 0.97% $20.2K$37.4K collateral 1.09% 89.1%
cbBTC / USDCMonad · LLTV 77% $8.6K8.63K USDC 15.31%+0.14% rewards $8.0K$22.1K collateral 16.53% 93.1%
cbBTC / EUROPEthereum · LLTV 86% $2.8K2.50K EUROP 0.00% $2.00$7.00 collateral 0.06% 0.1%

cbBTC on Morpho: quick answers

Where can I earn the most on cbBTC on Morpho?

Hyperithm cbBTC Apex on Monad pays 2.25% net APY, the most among cbBTC vaults with at least $1M deposited. The largest cbBTC vault, Hyperithm cbBTC Apex, pays 2.25%.

Where is it cheapest to borrow cbBTC on Morpho?

Borrowing cbBTC against LBTC on Base costs 0.07% a year, the lowest among markets with at least $250K available.

Can I borrow against cbBTC on Morpho?

Yes: 22 markets accept cbBTC as collateral, with liquidation LTVs up to 91.5%. The largest is cbBTC / USDC on Base, where borrowers pay 4.80%.

Which networks is cbBTC on Morpho available on?

Monad, Base, Ethereum and Tempo.

Borrowing against cbBTC? Check your numbers with the liquidation price calculator. More assets on the assets page.